Affordability Assessment

An affordability assessment is a review of your financial situation to determine whether credit is affordable for you. As a registered credit provider in South Africa, Fido is required by the National Credit Act (NCA) to assess a customer's ability to repay before credit can be approved. D...

Bank statements are an important part of the affordability assessment process. They help us understand your financial activity and verify your income so we can determine whether you're eligible for credit. Why Are Bank Statements Needed? South African regulations require credit providers ...

To complete your affordability assessment, you'll need to provide bank statements covering the most recent three months. What Should the Statements Show? Your statements should: Cover a continuous three-month period Be clear and readable Show your name and account details Include all ...

No. Bank statements are a required part of the affordability assessment process in South Africa. Before Fido can approve a credit application, we must assess your affordability in line with the National Credit Act. Why Are They Required? Your bank statements help us verify: Your income You...

If your affordability assessment is unsuccessful, your credit application may not be approved at that time. This doesn't necessarily mean you won't qualify in the future. Why Might an Assessment Be Unsuccessful? There are several reasons why an application may not meet affordability r...

In most cases, the affordability assessment is completed within a short period after all required information has been submitted. The exact processing time may vary depending on: The completeness of your application Verification requirements System processing times How Can I Avoid Delays?...

Yes. If your affordability assessment is unsuccessful, you may be able to apply again in the future. How can I improve my chances? Before reapplying, consider: Uploading clear and complete bank statements Ensuring your information is accurate and up to date Building a stronger repayment hi...

At Fido, we are committed to responsible lending. Before we can approve a credit application, South African regulations require us to assess whether the credit is affordable for you. This process is known as an affordability assessment and is required under the National Credit Act (NCA). Its pu...

If the assessment shows that the requested credit may not be affordable based on your current financial situation, your application may not be approved. This does not necessarily mean you will never qualify. Your eligibility may change over time as your income, expenses, or financial circumstan...